Goldman Sachs Asset’s Hershan Said to Lead Talks for Unit Buyout

Dion Hershan, head of Australian equities at Goldman Sachs Asset Management, is leading a proposed management buyout of the fund manager’s equity and fixed-income business, according to people familiar with the matter.

An announcement on the transaction could come as early as next month, said the people, who asked not to be named as the talks are private. Hershan is backed by an investment firm, the people said. The transaction won’t include Goldman Sachs Asset Management’s institutional business in the country, they said.

A spokeswoman for Goldman Sachs Group Inc., the fund manager’s parent, declined to comment. The buyout talks involving Hershan were first reported in the Australian Financial Review.